Code of Ethics

FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA CODE OF ETHICS

We comply with the Code of Ethics issued by FASEA which is a set of principles and core values that lay the foundation of our profession. This code is a principles based model that provides us a powerful framework which both shapes and reinforces our ethical conduct.

We are committed to offer a professional service, informed by this Code of Ethics that which shapes every aspect of our professional conduct. We consider this code and the Standards within as our legal obligation and the foundation of our professional conduct.

Standards of

ETHICAL BEHAVIOUR

Standard 1

You must act in accordance with all applicable laws, including this code, and not try to avoid or circumvent their intent.

Standard 2

You must act with integrity and in the best interest of each of your clients.

Standard 3

You must not advise, refer or act in any other manner where you have a conflict of interest or duty.

Standards of

CLIENT CARE

Standard 4

You may act for a client only with the client’s free, prior and informed consent. If required in the case of an existing client, the consent should be obtained as soon as practicable after this Code commences.

Standard 5

All advice and financial product recommendations that you give to a client must be in the best interests of the client and appropriate to the client’s circumstances.

You must be satisfied that the client understands your advice, and the benefits, costs and risks of the financial products that you recommend, and you must have reasonable grounds to be satisfied.

Standard 6

You must take into account the broad effects arising from the client acting on your advice and actively consider the clients broader, long-term interests and likely circumstances.

Standards of

QUALITY PROCESS

Standard 7

The client must give free, prior and informed consent to all benefits you and your principal will receive in connection with acting fore the client, including any fees for services that may be charged. If required in the case of an existing client, the consent should be obtained as soon as practicable after this Code commences.

Except where expressly permitted by the Corporations Act 2001, you may not receive any benefits, in connection with acting for a client, that derive from a third party other than your principal. 

You must satisfy yourself that any fees and charges that the client must pay to you or your principal, and any benefits that you or your principal receive, in connection with acting for the client are fair and reasonable, and represent value for money for the client. 

Standard 8

You must ensure that your records of clients, including former clients, are kept in a form that is complete and accurate.

Standard 9

All advice you give, and all products you recommend, to a client must be offered in good faith and with competence and be neither misleading nor deceptive.

Standards of

PROFESSIONAL COMMITMENT

Standard 10

You must develop, maintain and apply a high level of relevant knowledge and skills. 

Standard 11

You must cooperate with ASIC and monitoring bodies in any investigation of a breach of this Code.

Standard 12

Individually and in cooperation with peers, you must uphold and promote the ethical standards of the profession, and hold each other accountable for the protection of the public interest.

OUR VALUES

A relevant provider must always act to realise and promote the values of:
TRUSTWORTHINESS
COMPETENCE
HONESTY
FAIRNESS
DILIGENCE

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